Calvin Klein CEO Tom Murry to Retire

Steve Shiffman to Succeed Murry as Chief Executive

Calvin Klein Inc. said Tuesday that Chief Executive Tom Murry will step aside from that role July 1, when current President and Chief Commercial Officer Steve Shiffman will take over as head of the apparel brand.

Mr. Murry will then become executive chairman and serve as an adviser to Mr. Shiffman before retiring at the end of the fiscal year,...